Lucid’s third-quarter deliveries fell short of Wall Street expectations
The company has begun shipping partially-assembled EVs to Saudi Arabia for final assembly.said Tuesday that it delivered 1,457 of its Air sedans to customers in the third quarter, a number that is unlikely to reassure investors worried about demand for the posh and pricy electric vehicle.Analysts polled by FactSet had expected Lucid to deliver about 2,000 vehicles in the third quarter.
have lingered. While the Air has received strong reviews, and can claim the longest range of any EV currently available in the U.S., it's expensive: The Air starts at $77,400 in its least expensive Pure trim, aLucid didn't provide an update to its production guidance for the full year. The company previously told investors that it expects to produce"over 10,000" vehicles in 2023, guidance it first provided in May and.
Lucid had $6.25 billion in available liquidity as of the end of the second quarter, including $5.5 billion in cash and the remainder in available credit lines, which CFO Sherry House said at the time was sufficient to fund the company into 2025.
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